BRADENTON, Florida – A North Carolina woman has been arrested in connection with an alleged investment scam that investigators say cost a 66-year-old Bradenton man more than $100,000.
According to the Bradenton Police Department, 51-year-old Elizabeth Ann Hildbrand of Charlotte was arrested May 18 with assistance from the Charlotte-Mecklenburg Police Department.
Hildbrand faces charges of grand theft and money laundering and is awaiting extradition to Manatee County, investigators said.
Police said the victim filed a fraud report in February 2026 after discovering he could not withdraw money from what he believed was an investment account connected to an online company called “Tesla 1.”
According to investigators, the victim invested approximately $300,000 over a two-year period and communicated through text messages and the Telegram app with two people posing as brokers, including Hildbrand.
Financial records showed the victim transferred $87,651 through wire transfers and cashier’s checks to accounts owned by Hildbrand, police said. Investigators also said the victim purchased $22,500 in Apple gift cards and provided the card numbers and PINs to the individuals. Authorities said he additionally mailed an undetermined amount of cash.
Subpoenaed financial records allegedly showed Hildbrand deposited much of the victim’s money into her personal accounts before conducting numerous cryptocurrency transactions.
Following her arrest, Hildbrand told investigators she believed she was romantically involved with Elon Musk and thought she was helping him purchase cryptocurrency. Police said she later acknowledged realizing she had become the victim of a romance scam herself, but investigators determined she continued accepting money from the Bradenton victim and converting the funds into cryptocurrency.
The Federal Bureau of Investigation reported in its 2025 Internet Crime Report that cyber-related crimes cost Americans nearly $21 billion last year, with investment and romance scams ranking among the most commonly reported and most costly schemes.
Bradenton police said cases investigated by the department’s Elder Fraud Unit accounted for approximately $8 million in reported losses during 2025. As of May 1, 2026, the unit had investigated at least $750,000 in losses this year.